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Anyone else notice stark contrast in treatment of Acorn and Goldman Sachs?

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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 04:10 PM
Original message
Anyone else notice stark contrast in treatment of Acorn and Goldman Sachs?
Dems in congress abandoned Acorn lickity split when there was just an appearance of wrong doing, condemned them and cut their funding, driving the group out of business even though they responded to the conservative sting appropriately.

By contrast, Goldman Sachs lied to one class of investors to enrich another, and now we find that they bragged about profiting from shorting the real estate market, effectively betting on America to fail. If someone bothered to dig a little deeper, they could probably find some efforts to actually force the collapse and make their bets a sure thing.

And Obama still has these guys running his economics policy.

Isn't that like having al Qaeda in charge of Homeland Security, the Cayman Islands in charge of the IRS, and a drug cartel in charge of the DEA?

To get on track with financial reform, Obama not only needs to publicly fire his Goldman Sachs appointees, their enabler Geithner,and the Clinton retreads who led the charge on deregulation that made it all possible-- he needs to publicly apologize for hiring them and honestly explain the pressures that led to their appointment.

Far from a sign of weakness, that would have the same effect on public confidence President Kennedy's Bay of Pigs apology had--it showed the public he had our best interests and survival ahead of the gangsters, gamblers, sweatshop and casino owners. This move by Obama would show he is not the property of the syphilitically debauched trust fund babies on Wall Street, who would rather short the whole world economy than learn to produce any actual product or service of value to anyone other than their own degenerate class.

In short, I'd like to hear the economic equivalent of Obama's race speech not more about how helping Wall Street will trickle down on the rest of us like the sewage from the wealthy's shining gated community on a hill that we will never be allowed to enter.

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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 04:37 PM
Response to Original message
1. "they could probably find some efforts to actually force the collapse"
Maybe they whispered sweet nothings into Bush's & Greenspan's ears.

Oh yeah, and Clinton's too for a little necessary deregulation.

A perfect storm for the perfect fraud, all helped along, oh, innocently enough, by the bumbling government
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Juche Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 04:41 PM
Response to Original message
2. It is despairing
How deep the plutocracy runs in the government. Because I know that stuff isn't going to happen.
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Imajika Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 04:46 PM
Response to Original message
3. The Goldman Sachs of this country...
...don't live by the same rules. Not even close. Both parties support Goldman, Morgan, etc, etc, too. It is one big incestuous relationship between big finance firms and government.

Not just Goldman, but pretty much the whole super monied elite. The CEO's making 300 times what the average worker makes, the hedge fund types making billions betting against the country, etc, etc.

It is really revolting.
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 04:49 PM
Response to Reply #3
4. we won't have a democracy until we have a president and Congress willing to make them their bitch
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Blue Meany Donating Member (986 posts) Send PM | Profile | Ignore Sun Apr-25-10 04:53 PM
Response to Original message
5. Excellent analogies
Next time we observe industry leaders heading up regulatory agencies (broadcasters at the FCC, banksters at the SEC), we can say that is like having the Cayman Islands in charge of the IRS. Not sure the industries would like be compared with al-Qaeda or drug-cartels, though some have done much more damage than either, but I'm sure they couldn't object to be likened to a tax haven.
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abq e streeter Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 04:54 PM
Response to Original message
6. Great idea; unfortunately ,I have a suspicion that "the same capitalist/industrialist scumfucks
that got you there" ( in the words of Bill Hicks) would probably frown on this. The question is ,to me, is Obama a willing participant in all this, or is it a case of, again, as Hicks put it; after the new president is shown a film of JFK's killing from the grassy knoll: "Any questions? Yes...What's my agenda".
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csziggy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 06:11 PM
Response to Original message
7. Grayson had the right idea - apply the same standards to all corporations getting gov money
ACORN, Blackwater, Goldman Sachs - maybe suspend new monies if there are accusations, but certainly permanently remove them if the accusations are proven. And RESTORE them if the corporation is cleared as ACORN has been, over and over and over.
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 01:04 AM
Response to Reply #7
9. exactly
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DrToast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-25-10 06:16 PM
Response to Original message
8. "And Obama still has these guys running his economics policy." WTF are you talking about?
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 01:14 AM
Response to Reply #8
10. Robert Rubin was CEO of Goldman Sachs. McClatchy did a good story on others in Obama admin
At some point, you have to wonder whether these appointees are working for Obama or he is working for them.


One White House insider who knows something about how Wall Street does business is chief of staff Emanuel, who earned millions of dollars in investment banking after he left the Clinton White House. His work for the Chicago-based financial services firm Wasserstein Perella & Co. intersected with Goldman in at least one deal.

In 1999, Emanuel was a key player representing Unicom Corp., the parent of Commonwealth Edison, in forging its merger with Peco Energy Co. to create utility giant Exelon Corp. Goldman was also advising Unicom.

The White House declined immediate comment on that connection.

Several former Goldman executives hold senior positions in the Obama administration, including Gary Gensler, the chairman of the Commodity Futures Trading Commission; Mark Patterson, a former Goldman lobbyist who is chief of staff to Treasury Secretary Timothy Geithner; and Robert Hormats, the

http://www.mcclatchydc.com/2010/04/21/92637/goldmans-connections-to-white.html

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DrToast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 11:39 AM
Response to Reply #10
16. It's wildly misleading to say those guys are "running his economics policy"
None of his top economic advisers ever worked for Goldman. Most of them came from academia.

You're citing all lower level guys.

By the way, Gensler is the biggest pain in the ass for the financial industry today.
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boppers Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 05:16 AM
Response to Original message
11. Apples and Oranges treated differently, news at 11. eom
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Vattel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 05:36 AM
Response to Original message
12. These people are in charge because
they have the economy as a hostage. If they don;t cooperate the economy tanks.
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 09:28 AM
Response to Reply #12
13. they can only hold us hostage if gov't lets them
And I suspect if we broke them or let them fail, there would be brief economic chaos followed by a less cyclical economy.
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political_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 09:39 AM
Response to Original message
14. Yes. And it is appalling.
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NoSheep Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 11:33 AM
Response to Original message
15. What about ACORN and Blackwater...same double standard.
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art of compromise Donating Member (30 posts) Send PM | Profile | Ignore Fri Apr-30-10 05:08 PM
Response to Original message
17. Disgusting.
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